Going forward, I will be mechanically trading any number of systems I come up with that I think have merit. I've been working on an emini system which I hope to trade soon but right now I just have my 6E system which had exactly one trade so far this year and I wasn't around the day that signaled.
It's funny, to me anyways, how much unsolicited advice an anonymous blogger can get. It seems to come in waves, particularly during drawdowns. I know I open myself up to this with my results transparency and allowing anonymous comments. I do read everything even if I choose not to respond.
Regarding daily blogging, it is time for an experimental change, perhaps just for a month. Starting in Feb., I'm going to post once a week, assuming I traded that week. And anonymous comments are going away. Mostly because of the increased spam I am getting that nobody ever sees but blogger sees fit to email me. Registered commenters, as always, are more than welcome. Or you can email me.
| RESULTS FOR DAY | |
|---|---|
| NQ Contracts: | 30 |
| Net $P/L: | -1479 |
| Wins: | 1 |
| Losses: | 5 |
| Win%: | 17 |
| Avg$Win: | 12 |
| Avg$Loss: | -298 |
Posts
Only one post a week is going to be tough on us! Understand though. Have a great weekend.
ReplyDeleteI agree that only once per week is tough bec your blog seems so well organized and easy to read that since I discovered it I try to check in fairly regularly after my trading day to see how you made out that day. Good luck with the shift to more mechanical trading.
ReplyDeleteAnother option to consider is to relegate discretionary trading to a sim account. If you can get a feel for what the prevailing trend channel is by hands on trading, it should prove quite beneficial to both your discretionary and mechanical trades.
ReplyDeleteOkay, I'll also offer some more unsolicited advice, since the market charts you've posted this week allows me to point something out. =) If you look at the charts and connect the main valleys with the best fit line, and then the main peaks with a best fit line, you get a trading channel that tells you the zones you should be focusing on either buying or selling opportunities.
ReplyDeleteBased on trading channels, I notice you are shorting in a buying area and attempting longs in shorting areas.
Now as a long term trader I'm sure you already know about trading channels, but I'm curious as to why you don't use them, as it would seem to makes ones job of time that much more difficult trying to short in areas of buying pressure or go long with selling pressure. They also give you longer term targets to let you take advantage of the trend in place. The reason I bring it up is I've seen you close out trades where the channel indicated that it had room to go, and actually did, leaving a ton of potential profit on the table. Is there a reason you don't use channel TA?
Now of course being able to map accurate channels can be a big challenge, but I think if you turn your attention to that, both your mechanical and discretionary trades would benefit quite a bit.
Well the once a week is just an experiment and may only last a month. I don't think blogging has any impact on my performance (especially with mechanical trading) but it will be interesting to see how I feel.
ReplyDeleteSoullfire, true, there is always SIM as much as I hate it in general. Thanks for the channel feedback. You're right that some of my trades are in very poor areas, in hindsight of course. ;)